International. In recent years there has been increasing talk about the need to implement the application of sustainable materials for construction and architecture, in order to reduce the proportion of waste generated and therefore improve the quality of life of users.
Several experts agree that "the reduction of environmental impacts should focus on all stages of construction. Both in the extraction of raw materials and in the stage of processing and manufacturing of components for construction. Even in the demolition of the house."
Additionally, the need is focused on focusing environmental, social and governance efforts at the top of the agenda of companies and investors.
Kamya Miglani, Research Director of ASG, Asia Pacific, JLL said: "The impact the built environment can have on reducing carbon emissions is well documented, but there is more value that real estate can create to achieve holistic ESG goals."
In Asia Pacific, 42% have already signed green leases and another 43% plan to do so by 2025. There are other cases, more advanced as with Singapore, where all new buildings must meet higher sustainability standards and be certified as green under the green building rating system of the Buildings and Construction Authority (BCA).
Australia is another country looking to strengthen green measures and a recently passed climate change bill is expected to accelerate the adoption of green leases as part of carbon reduction efforts.
For Miglani "owners who wish to avoid a brown discount on their assets will have to modernize not only to reduce the energy needs of their buildings, but also to make them relevant and fit for the long-term future."
On the other hand, it should be emphasized that collaboration on green leases has been hampered by higher costs, which were pointed out as one of the main barriers to adoption.
